White Gold (CVE:WGO) Stock Price Down 9.2% - Time to Sell?

Key Points

• White Gold Corp. (CVE:WGO) experienced a significant stock price drop of 9.2%, closing at C$0.99 after trading as low as C$0.97 on Monday.
• Insiders have been actively buying shares, with transactions totaling 5,267,500 shares valued at approximately C$1.58 million over the last quarter, indicating strong insider confidence.
• The company has a market cap of C$218.40 million and a notably high price-to-earnings ratio of -99.00, reflecting potential investor concerns.

White Gold Corp. (CVE:WGO - )'s stock price dropped 9.2% during trading on Monday . The stock traded as low as C$0.97 and last traded at C$0.99. Approximately 1,503,700 shares changed hands during mid-day trading, an increase of 144% from the average daily volume of 616,838 shares. The stock had previously closed at C$1.09.

White Gold Stock Performance

The business has a fifty day simple moving average of C$0.82 and a 200-day simple moving average of C$0.49. The firm has a market cap of C$218.40 million, a price-to-earnings ratio of -99.00 and a beta of 1.37.

Insider Activity

In related news, insider Pasquale Dicapo acquired 2,000,000 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average cost of C$0.29 per share, for a total transaction of C$580,000.00. Also, insider Agnico Eagle Mines Limited bought 3,000,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average cost of C$0.29 per share, with a total value of C$870,000.00. Over the last quarter, insiders purchased 5,267,500 shares of company stock valued at $1,583,213. Company insiders own 51.30% of the company's stock.

About White Gold

White Gold Corp. engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for gold, copper, molybdenum, and silver deposits. Its flagship project is the Golden Saddle and Arc deposits in the White Gold property located in Dawson City, Yukon.

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